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simpson, age 45, is a single individual who is employed full time by duff corporation. this year simpson reports agi of $56,200 and has incurred the following medical expenses:dentist charges $ 1,820physician charges 2,040optical charges 855cost of eyeglasses 735hospital charges 2,350prescription drugs 340over-the-counter drugs 640medical insurance premiums (not through an exc
simpson, age 45, is a single individual who is employed full time by duff corporation. this year simpson reports agi of $56,200 and has incurred the following medical expenses:dentist charges $ 1,820physician charges 2,040optical charges 855cost of eyeglasses 735hospital charges 2,350prescription drugs 340over-the-counter drugs 640medical insurance premiums (not through an exc
Based on the various medical expenses charged to Simpson, themedical expensesto be included asitemized deductionsafter applicable limitations are $4,700How to find the itemized medical deductions?First, find theallowable medical expenses:= Dentist charges + Physical charges + Optical charges + Cost of eye glasses + Hospital charges + Prescription drugs + Medical insuranceSolving for the allowable medical expenses gives:= 1,820 + 2,040 + 855 + 735 + 2,350 + 340 + 775= $8,915The subtract thefloorof the deductions to find theitemized deductions:= 8,915 - ( AGI x 7.5%)= 8,915 - ( 56,200 x 7.5%)= 8,915 - 4,215= $4,700In conclusion, $4,700 ofmedical expensescan be included asitemized deductions.The full question is:Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.Find out more onitemized deductionsatbrainly.com/question/3598381#SPJ1...